2.25% Reward Checking Account at Nevada State Bank - Local Only

Nevada State Bank is offering a reward checking account called Advantage Checking. The account has the following rates if certain monthly requirements are met:

2.25% APY on balances up to $25,000

1.00% APY on portion of balance over $25,000

0.05% base rate if account requirements are not met

The monthly requirements include:

10 signature based debit card purchases

1 ACH direct deposit

Log into online banking

Receive e-statements

Additional features of the account regardless of the monthly requirements include:

$500 minimum initial deposit

No minimum balance requirement

No monthly service charge

Nevada State Bank's $1.50 foreign ATM fee is waived, but the fees charged by other banks are not reimbursed

The bank has an online application link available at the Advantage Checking page, and it appears that a branch visit is not required.

Branches are located throughout Las Vegas and in several other Nevada cities including Reno, Carson City, Henderson, Boulder City, Elko and Pahrump.

The bank's ratings for safety and soundness are fair: 3 stars (adequate) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 3/31/09 financial data. Nevada State Bank has been a FDIC member since 1959 (FDIC Certificate # 18113).

Community Bank of Nevada’s reward checking and its closure

The reader who sent me this reward checking info mentioned that Nevada State Bank was planning to offer rewards checking starting in October, but since they are overseeing the shutdown of Community Bank of Nevada, they decided to offer it immediately to anyone who wants it. So in addition to Nevada State Bank branches, it’s also being offered at former Community Bank of Nevada branches until it’s permanently closed in a few weeks.

Community Bank of Nevada was closed by regulators on August 14, 2009. The FDIC wasn’t able to find a buyer, so all of its offices are being closed. Community Bank of Nevada had been offering a reward checking account. So with this new reward checking account from Nevada State Bank, at least customers will continue to have a local option for a reward checking account.

Other Reward Checking Accounts

This Nevada State Bank account is not a great rewards checking, but it’s currently the best one available in Nevada. Unfortunately, Nevada has very few reward checking account options, and all have below-average rates.

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.

Update 9/06/08: The bank has been closed. Please refer to this post for more details.

Update: This CD rate is no longer available. Please check with the bank for the latest CD rates and specials.

Silver State Bank is offering a 5.50% APY certificate of deposit with terms of either 6 or 12 months. The minimum deposit is $10,000. This special CD doesn't seem to be listed at the bank's website. It was advertised in yesterday's LV Review Journal. The ad is available online here.

Update 9/06/08: The bank has been closed. Please refer to this post for more details.

Update 5/3/08: This CD special may have ended. Please check with the bank for the latest rates and specials.

Silver State Bank has a CD promotion with a yield of 4.00% APY for terms of 6 and 12 months. The minimum deposit is $10,000.

This special doesn't seem to be listed at the bank's website. A reader emailed me about this, and I contacted the bank yesterday for additional details. According to the banking rep, this promotion is...

Update 9/06/08: The bank has been closed. Please refer to this post for more details.

Silver State Bank has a CD promotion with a yield of 4.25% APY for terms of 6 and 12 months. The minimum deposit is $10,000.

This special doesn't seem to be listed at the bank's website. A reader emailed me about this, and I contacted the bank today for additional details. According to the banking rep, the promotion was just advertised in the newspaper today, so she expected it to last for at least a week. The...

Update 9/06/08: The bank has been closed. Please refer to this post for more details.

Silver State Bank has a CD promotion with a yield of 4.25% APY for terms of 6 and 12 months. The minimum deposit is $10,000.

This is the same bank and special that I reported on last week, but I had only confirmed the special for the Nevada branches. I had failed to check if this special was also available in the bank's Arizona branches. A reader noted this special for Arizona in the comments, and I...

More Past Offers

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